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lew, and he trust jack lew. if you look at all of these cabinet appointments that we've seen and some to come, it is about the president's comfort level in the second term. >> he was just re-elected, he's the president of the united states. he deserves to be comfortable. if you can hold on, we still haven't received that famous two-minute warning. we'll take a quick two-minute break and be right back. where is flo? anybody know where flo is? are you flo? yes. is this the thing you gave my husband? well, yeah, yes. the "name your price" tool. you tell us the price you want to pay, and we give you a range of options to choose from. careful, though -- that kind of power can go to your head. that explains a lot. yo, buddy! i got this. gimme one, gimme one, gimme one! the power of the "name your price" tool. only from progressive. >>> we waiting for the president of the united states to walk into the east room of the white house. we'll show you a picture now. he's going to nominate jack lew as white house chief of st
lew, and he trust jack lew. if you look at all of these cabinet appointments that we've seen and some to come, it is about the president's comfort level in the second term. >> he was just re-elected, he's the president of the united states. he deserves to be comfortable. if you can hold on, we still haven't received that famous two-minute warning. we'll take a quick two-minute break and be right back. where is flo? anybody know where flo is? are you flo? yes. is this the thing you gave my...
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host: jack lew coming in, and he was the president's point person. does that give you any confidence on budgets considering his background? caller: no, his background is just as bad. he practiced law for a few years, but he is basically a politician who used to work for tip o'neill. he does not care anything about economic growth. when the you hear any obama administration official talking about economic growth? that is what is needed, not more government programs that just run up debt. who is going to pay the debt back? host: ran on the independent line. caller: i am calling about timothy geithner exactly and the whole federal resolve -- reserve, for that matter. people are making like me of timothy geithner 0 in tax money. i do not make lightly of that. he came in a 0 in tax money knowing that he owed tax money. he was thinking he was above it anyway. that is one point. the second, our unemployment rate is sky-high under timothy geithner. the national debt is sky high under timothy geithner. third, we have lost our national credit rating, our world
host: jack lew coming in, and he was the president's point person. does that give you any confidence on budgets considering his background? caller: no, his background is just as bad. he practiced law for a few years, but he is basically a politician who used to work for tip o'neill. he does not care anything about economic growth. when the you hear any obama administration official talking about economic growth? that is what is needed, not more government programs that just run up debt. who is...
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professor black, your assessment of jack lew? >> on financial matters, jack lew has been a failure of pretty epic proportions. he gets promoted precisely because he is willing to be a failure, and is a useful to wall street interests. so you have mentioned two of the things in terms of most important and most destructive deregulation under president clinton by statute. but he was also there for much of the regulation by rule and strong proponent of it, and he was there for much of the cutting of staff, for example, the fdic lost three-quarters of its staff and a huge loss began under clinton. and the whole reinventing government, lou was a strong supporter of that. we were taught, instructed by washington that we were to refer to banks as our clients and our role as regulators, and to think of them as clients. he goes from there to wall street where he was a complete failure. you noted that part of what citicorp did was a bet that housing would fall. that is one of their winning bets. the action made a bunch of losing bets as wel
professor black, your assessment of jack lew? >> on financial matters, jack lew has been a failure of pretty epic proportions. he gets promoted precisely because he is willing to be a failure, and is a useful to wall street interests. so you have mentioned two of the things in terms of most important and most destructive deregulation under president clinton by statute. but he was also there for much of the regulation by rule and strong proponent of it, and he was there for much of the...
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>>> the cabinet reshuffle continues, and next in the hot seat, jack lew. it is wednesday, january 9th, and this is "now." >>> joining me today, "rolling stones" eric bates, heather mcgee, former traveling press secretary for the obama campaign jen psaki, and the effortlessly elegant msnbc contributor jonathan capehart of "the washington post." at a time of great fiscal uncertainty and belt tightening, president obama is poised to nominate as the next treasury secretary a man who brings his lunch to work every day, a cheese sandwich and apple to be precise, president obama will reportedly tap jack lew tomorrow to replace timothy geithner. lew would take over on the eve of another debt ceiling battle. in round one during the summer of 2011, boehner's top staffer called lew's debt ceiling negotiations disrespectful and dismissive. according to david plouffe, that is because jack knows the numbers and republicans couldn't pull a fast one. two names are being floated to replace lew, dennis mcdonagh, currently his deputy national security adviser and ron klain.
>>> the cabinet reshuffle continues, and next in the hot seat, jack lew. it is wednesday, january 9th, and this is "now." >>> joining me today, "rolling stones" eric bates, heather mcgee, former traveling press secretary for the obama campaign jen psaki, and the effortlessly elegant msnbc contributor jonathan capehart of "the washington post." at a time of great fiscal uncertainty and belt tightening, president obama is poised to nominate as the...
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i have the greatest respect for jack lew. i know him as a man exceptional judgment, calm under pressure, with an extraordinary record of experience over decades spent at the center of american economic policy. he is committed to defending the safety net for the elderly and poor. he understands what it takes to create the conditions for stronger economic growth and broader economic opportunity. and he understands that to govern responsibly, is to govern with the recognition that we have limited fiscal resources. now like jack, i've spent my professional life in this world of public policy and public service, and as all of you know, our families carry a large share of the burdens we assume in public life. and i feel incredibly fortunate that my wife, carol, and my family, have been willing to allow me to do this. and i thank them for their support and their patience and i understand their occasional impatience. i want to express my admiration and my appreciation for the women and men of the treasury department. those who came t
i have the greatest respect for jack lew. i know him as a man exceptional judgment, calm under pressure, with an extraordinary record of experience over decades spent at the center of american economic policy. he is committed to defending the safety net for the elderly and poor. he understands what it takes to create the conditions for stronger economic growth and broader economic opportunity. and he understands that to govern responsibly, is to govern with the recognition that we have limited...
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and jack lew is in the middle of it. because democratic economic policies have not been well received by republicans in congress, and because jack lew once irked mitch mcconnell, he is, we're supposed to believe, not going to get the top tier cabinet position. we scoff in your general direction. if those do not sound like reasons substantive enough to block a presidential cabinet nomination, that is because those are not reasons substantive enough to block a presidential cabinet nomination. at least historically speaking, those are not the kind of things that keep a person out of a top tier job like that. as "the new york times" calculated today, in the history of the u.s. senate, the senate has confirmed over 500 cabinet nominations. over 500. it has denied nine out of more than 500 in gnat senate history. the last time a cabinet nomination was denied was almost 25 years ago when the senate voted down poppy bush's nominee for defense john tower after what would later be described in his obituary of public allegations of
and jack lew is in the middle of it. because democratic economic policies have not been well received by republicans in congress, and because jack lew once irked mitch mcconnell, he is, we're supposed to believe, not going to get the top tier cabinet position. we scoff in your general direction. if those do not sound like reasons substantive enough to block a presidential cabinet nomination, that is because those are not reasons substantive enough to block a presidential cabinet nomination. at...
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jack lew claim to fame to create a surplus bet americans are up in arms? >> nobody has a better resonate and jack lew who was an aide to tip o'neill during the reform of social security. republicans are really just playing partisan. lori: over the last three years ago with budget director u.s. has run deficits over $8 trillion per year in that rate is of contention with criticism. >> a lot of that's is more partisan fear than reality. one interview that he did when the president proposes budget that spending on government programs would balance with the revenues to equalize. their rubies smaller running deficits but that was the course scope and size issue. they said it is semantics but that is not the case. lori: do they not like him because he is a tough negotiator? >> that is part of it. >> except john kerry every nomination is criticized even in hagel is not good enough. so the backdrop of the obama was working in with a first term and dynamics were different but that was a solid choice and we could have huge ffghts ahead of us. >> with the cuts coming
jack lew claim to fame to create a surplus bet americans are up in arms? >> nobody has a better resonate and jack lew who was an aide to tip o'neill during the reform of social security. republicans are really just playing partisan. lori: over the last three years ago with budget director u.s. has run deficits over $8 trillion per year in that rate is of contention with criticism. >> a lot of that's is more partisan fear than reality. one interview that he did when the president...
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jack lew is not that man. the original messages that we're now getting from a number of republican senators who will have to consider this nomination, many are saying that they will go through the vetting process. see what jack lew has to say from confirmation hearings as the information comes out. they want a plan to address spending. many are skeptical they're getting it from the treasury nominee or from the administration. back to you. tracy: rich edson, thanks for all that. ashley: jack lew then must face the senate before he takes the helm at treasury department. with the top republican on budget committee already speaking out against lew are we in for a bumpy confirmation process on capitol hill? joining us bob cusack, managing editor of "the hill." it could be interesting, bob. we mentioned senator jeff sessions, top ranking republican on the senate budget committee and he said, quote, in a statement that is now at, out, jack lew must never be treasury secretary. he has critics but do you think he will
jack lew is not that man. the original messages that we're now getting from a number of republican senators who will have to consider this nomination, many are saying that they will go through the vetting process. see what jack lew has to say from confirmation hearings as the information comes out. they want a plan to address spending. many are skeptical they're getting it from the treasury nominee or from the administration. back to you. tracy: rich edson, thanks for all that. ashley: jack lew...
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what about now with jack lew? brian jacobson chief portfolio strategist at wells fargo joining us now from milwaukee wisconsin. at first look, what do you think? >> well, i think this is an example where we will probably see history not necessarily repeat but it will most likely rhyme with what happened when geithner made his first speech. i'm not all that confident that lew is going to be a good replacement for geithner. i think he's not a very unifying individual. he's more of a polarizing figure. and it makes it more likely that the next two years until the midterm elections that we could see more battles and skirmishes in washington, d.c. as opposed to fewer. dagen: what would you like to see as a stock investor? >> a treasury secretary who is more focused on building compromise. but think the lesson we learned in the debate last year when there was discussion about debt ceiling is that lew is one of these types of individuals who very politically savvy but that doesn't necessarily equate to being a statesman
what about now with jack lew? brian jacobson chief portfolio strategist at wells fargo joining us now from milwaukee wisconsin. at first look, what do you think? >> well, i think this is an example where we will probably see history not necessarily repeat but it will most likely rhyme with what happened when geithner made his first speech. i'm not all that confident that lew is going to be a good replacement for geithner. i think he's not a very unifying individual. he's more of a...
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those were the years that jack lew was in charge of the budget. those were also the years in which debt clocks had to be unplugged because they had never been programmed to run backwards. it was not jack lew alone who led us to that fiscal breakthrough as a country. but he was budget director, and with success comes bragging rights. and even know the obama administration kind of declared war on peacocks in this announcement yesterday, it is worth wondering if they might not actually be better off if they did strut on these issues a little bit more than they like to, because you would never know it from the way the deficit peacocks are crowing against this administration, but the deficit is now more than $200 billion smaller than it was when president obama first took office. we are currently witnessing the fastest deficit reduction in this country since the end of world war ii. the alleged big spending liberal barack obama has already signed into law approximately $2.4 trillion deficit reduction measures over the next decade. and that could be hig
those were the years that jack lew was in charge of the budget. those were also the years in which debt clocks had to be unplugged because they had never been programmed to run backwards. it was not jack lew alone who led us to that fiscal breakthrough as a country. but he was budget director, and with success comes bragging rights. and even know the obama administration kind of declared war on peacocks in this announcement yesterday, it is worth wondering if they might not actually be better...
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but jack lew is opposite of that. he thinks he las the set of skills he needs among candidates to replace jack lew as chous chief of staff. one source tells me set leading candidate. we will see if that announcement is made tomorrow as is jack lew for treasury. >> if jack lew is secretary treasury, it'll look something like this, whatever that is. accidentally, tim geithner had a different signature but changed it for the green back. ma maybe jack lew will do the same. >> the power the new treasury hassle have the power to shape. but is this is real risk? fresh off a multiyear run at tcw, first off, congratulations of being a self-employed business man. >> thank you, very much. >> now all of the bills fall to you. >> yes. >> but it is always ladies first. >> glad to hear it. first off, jack lew, no doubt his commitment to dc. my problem is his commitment to dc. he only served out of d.c. one year in the hedge fund department. is he the right man for the job? >> listen, i think you raise an important point. i think wha
but jack lew is opposite of that. he thinks he las the set of skills he needs among candidates to replace jack lew as chous chief of staff. one source tells me set leading candidate. we will see if that announcement is made tomorrow as is jack lew for treasury. >> if jack lew is secretary treasury, it'll look something like this, whatever that is. accidentally, tim geithner had a different signature but changed it for the green back. ma maybe jack lew will do the same. >> the power...
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first, new treasury secretary jack lew -- a veteran of the clinton and obama white houses - who will succeed timothy geithner. >> jack has my complete trust. i know i'm not alone in that. in the words of one former senator, "having lew on your team is the equivalent as a coach of having the luxury of putting somebody at almost any position and knowing he will do well." gwen: so what does lew's appointment tell the senators who must confirm him about what comes next in our epic budget fights? david? >> i think it tells us that the president anticipates that this year will be a year dealing with taxes and spending and deficits. it will be the fifth year in which we have a trillion dollar deficit and jack lew has been budget director in two administrations. unlike timothy geithner, he has very little experience in finance. that was geithner's strong point. he has very little experience in international. that was geithner's background. this is a guy who knows budget and knows congress. it sort of marks a punctuation point in the financial rescue. geithner was part of the rescue at the ne
first, new treasury secretary jack lew -- a veteran of the clinton and obama white houses - who will succeed timothy geithner. >> jack has my complete trust. i know i'm not alone in that. in the words of one former senator, "having lew on your team is the equivalent as a coach of having the luxury of putting somebody at almost any position and knowing he will do well." gwen: so what does lew's appointment tell the senators who must confirm him about what comes next in our epic...
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lew is concerned what will be top of the agenda then what needs to be done going forward. he majorly moved will need to move towards get in the talks on the debt ceiling in place it would also be for him to create the platform from which. obama is reflecting his view that he wants to do something about his legacy u.s. is still facing huge reforms needed in particularly in the health care costs where health costs over the next ten years will double in percent of the g.d.p. so there's still a lot to be done and i think appointing a somewhat more political person to the choices second chair will also indicate that obama means business is terrific doing this and in terms of ways to tackle the debt then there's been talk of a one trillion dollar platinum coin to be minted as a way to resolve the over sixteen trillion dollar debt do you see this is feasible is it crazy is it is a good idea how do you see this. theoretically is a very good idea isn't it if you have too much state you can just mend some coins and you're out of your trouble of course i think clearly this is just th
lew is concerned what will be top of the agenda then what needs to be done going forward. he majorly moved will need to move towards get in the talks on the debt ceiling in place it would also be for him to create the platform from which. obama is reflecting his view that he wants to do something about his legacy u.s. is still facing huge reforms needed in particularly in the health care costs where health costs over the next ten years will double in percent of the g.d.p. so there's still a lot...
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here is jack lew's signature, it really is. and here is what jack lew's signature would look like on a dollar bill. not everybody can have the style of john hancock. it was once said that the president had the handwriting that neared that of an illiterate. and of course, there is this, that signature? it may be more legible than jack lew, tim geithner's signature became the very neat, very legible cursive in the right-hand corner. tim geithner said he was forced to change his signature before it was fit to print. richard wolfe, when i was chief of staff at the senate finance committee, we of course had to confirm treasury secretary. and i had when i was all done -- this thing was run through the committee. and the question is when exactly is it going to be voted on, on the floor? because it was the floor vote, absolutely guaranteed. the matter of a crowded calendar. it is the floor vote that really does make you treasury secretary. and the guy was in there, doing the job. i kept getting the calls, when is it going to happen. i
here is jack lew's signature, it really is. and here is what jack lew's signature would look like on a dollar bill. not everybody can have the style of john hancock. it was once said that the president had the handwriting that neared that of an illiterate. and of course, there is this, that signature? it may be more legible than jack lew, tim geithner's signature became the very neat, very legible cursive in the right-hand corner. tim geithner said he was forced to change his signature before...
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defense secretary but jack lew is practically a shoo in however given this man's history with banks and his stances on deregulation should we expect more of the same from him for more kyle harrington founder of harrington capital management joins me hey there kyle so let's are you doing well how are you sir good jack lew is not a surprising choice to many just i mean he isn't facing as much scrutiny as more of an out of the box kind of nominee. well i you know it's interesting aside from his peculiar signature you know i think you know one needs to look at whether or not you are republican democrat liberal conservative his his background is it is kind of interesting as well it seemed as if he was raised and grew up on more of a government dependent spending liberal side of the equation and then he got into private practice in which he you know like you highlighted said that financial deregulation had nothing to do with the collapse so you you you wonder whether or not you know where he is and again with the less thing we need in my opinion out of washington d.c. with respect to any of t
defense secretary but jack lew is practically a shoo in however given this man's history with banks and his stances on deregulation should we expect more of the same from him for more kyle harrington founder of harrington capital management joins me hey there kyle so let's are you doing well how are you sir good jack lew is not a surprising choice to many just i mean he isn't facing as much scrutiny as more of an out of the box kind of nominee. well i you know it's interesting aside from his...
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i have the greatest respect for jack lew. he is a man of exceptional judgment, calm under pressure with an extraordinary record of accomplishment and experience over decades spent at the center of economic policy. he is committed to defending the elderly and the poor and understands what it takes to create the conditions for stronger economic growth and broader economic opportunity, and he understands that to govern responsibly, to govern with the recognition that we have limited fiscal resources. like jack, i have spent my professional life in this world of public policy and public service. as all of you know, our families carried a large share of the burdens we assume in public life. i feel incredibly fortunate that my wife, carol, and my family have been willing to allow me to do this. i thank them for their support and their patience and i understand, their occasional inpatients. [laughter] i want to express my appreciation and admiration for the men and women of the treasury department who came to serve you these years o
i have the greatest respect for jack lew. he is a man of exceptional judgment, calm under pressure with an extraordinary record of accomplishment and experience over decades spent at the center of economic policy. he is committed to defending the elderly and the poor and understands what it takes to create the conditions for stronger economic growth and broader economic opportunity, and he understands that to govern responsibly, to govern with the recognition that we have limited fiscal...
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lew our t. does some digging into his past we'll show you the info that we dug up. in farmers versus months on so a group of farmers are trying to reinstate a class action lawsuit against the biotech giant what they are fighting about and why the issue may affect what's on your dinner table coming up. it's friday january eleventh five eight pm in washington d.c. hi meghan lopez and you're watching our t.v. well it's the moment we've all been waiting for over a decade for earlier today president obama met with his afghan counterpart to discuss a twenty fourteen drawdown of american troops now in front of the camera both president obama and president karzai have presented a united front and say they agree on the future goals for afghanistan but one report after another has demonstrated that these two leaders are often at odds with one another or two arabic correspondent rym up to him via tell us about the current relationship between the presidents and what we learn from today's meetings. as that
lew our t. does some digging into his past we'll show you the info that we dug up. in farmers versus months on so a group of farmers are trying to reinstate a class action lawsuit against the biotech giant what they are fighting about and why the issue may affect what's on your dinner table coming up. it's friday january eleventh five eight pm in washington d.c. hi meghan lopez and you're watching our t.v. well it's the moment we've all been waiting for over a decade for earlier today president...
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jack lew officially nominated as treasury chief. lew is known for his role in the being acrimonious talks in 2011. what could it mean this time. >> tiffany disappoints again with weaker holiday sales. there was weakness in the americas, strength in asia. so how much of a read through to the rest of retail is this earnings report? >>> nokia shares soaring this morning after a bullish outlook for the first quarter. >>> and herbal life's big day to defend itself against bill ackman's damning allegations. we'll have the latest and the ceo join us later in the show. >>> well, today president obama is set to nominate white house chief of staff jack lew as his next treasury secretary. succeeding tim geithner. lew has been budget director in both the obama and clinton administrations. he will pray a major role of course in negotiations over the debt ceiling and potential spending cuts. the president will make his announcement at 1:30 eastern. it's an event in the east room at the white house. i have to say off the bat just because he's a fo
jack lew officially nominated as treasury chief. lew is known for his role in the being acrimonious talks in 2011. what could it mean this time. >> tiffany disappoints again with weaker holiday sales. there was weakness in the americas, strength in asia. so how much of a read through to the rest of retail is this earnings report? >>> nokia shares soaring this morning after a bullish outlook for the first quarter. >>> and herbal life's big day to defend itself against...
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but does jack lew have what it takes? we'll talk about it, after this. ♪ [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male announcer ] save on ground shipping at fedex office. >>> aig has decide not to joiven a lawsuit by former ceo hank greenberg against the u.s. government. greenberg claims the company's 2008 bailout was unfair to shareholders. aig says it won't let greenberg's firm pursue its claims on the company's behalf. the ceo told cnbc joining the suit isn't in aig's best interest. and while the terms of the lawsuit may hav
but does jack lew have what it takes? we'll talk about it, after this. ♪ [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save...
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lew the individual and what jack lew has stood for historically in his career and more about this administration's fiscal policy you can expect to see these confirmation hearings will be a proxy for the looming debt ceiling debate and other debates going forward about the administration's fiscal plan. >> woodruff: jared, whator all does this choice say about what the president's priorities are when it comes to the economy? >> i think it says two things. one is that the president wants jack lew there for these upcoming fiscal deadlines. the sequestration, the debt ceiling, things like that. he knows that jack is not just a tough negotiator and i think this next point has gotten mixed he's a successful negotiator. i know republicans are complaining because he took a tough line back in 2011 with a lot of tea party folks but in fact he's been closing deals for 30 years the second thing is jack understands what it means, a very important part of the president's second term agenda. he understands what it means to get our debt on a sustainable trajectory. there's a lot that has to happen for that to occu
lew the individual and what jack lew has stood for historically in his career and more about this administration's fiscal policy you can expect to see these confirmation hearings will be a proxy for the looming debt ceiling debate and other debates going forward about the administration's fiscal plan. >> woodruff: jared, whator all does this choice say about what the president's priorities are when it comes to the economy? >> i think it says two things. one is that the president...
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continue tim's work at treasury than jack lew. >> jack lew is very partisan, he's very political. >> he already has some strong opposition especially from the top lawmaker on the senate budget committee jeff sessions. you can't have somebody-- >> i trust his judgment, value his friendship, i know very few people get greater integrity than the man to my left. >> jack lew and the president don't think that spending is the problem. wasteful government spending is the problem. >> prosecutors say arias had one last tryst with travis alexander, killed him in a ferocious gun and knife attack. it's not a case of whodunit. it's a case of kill or be killed. if i didn't kill him, i myself would be killed. >> it's hard to play the victim of terrorism, when you've shot the guy in the head and slashed him or slashed him and then shot him in the head. >> and junior saey, doctors reveal-- >> junior suffered from chronic brain damage. severe brain damage, all the concussions, he suffered damage to his very brain cells. >> the latest on the disappearance of luxury fashion mogul vittorio missoni. >> an
continue tim's work at treasury than jack lew. >> jack lew is very partisan, he's very political. >> he already has some strong opposition especially from the top lawmaker on the senate budget committee jeff sessions. you can't have somebody-- >> i trust his judgment, value his friendship, i know very few people get greater integrity than the man to my left. >> jack lew and the president don't think that spending is the problem. wasteful government spending is the...
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let me say more about jack lew, we call this one, you don't know jack. >> of course you do. >> this is a financial education. beginning with harvard and georgetown. but that never disqualified anybody. tip o'neill 93 and '94, special to president clinton. and that's what john harwood was talking about. incredible expertise with the budget. moving on in 2006, new york university as executive advice president. then a stint at citigroup. first at global wealth management and next in a controversy by the way that comes up with a large bonus he got while citigroup was getting tart money. finally reenter the administration. i'm sure the administration will make a cot of, as secretary in charge of of resource management. and second stint of omb. then white house chief of staff to the present. let's look at positive. some private sector banking experience. that ends up being a negative. close to the president, you have treasury secretaries with more or less connections to the white house. . finally ton negatives, is this the guy you want in office during financial crisis like you had with geit
let me say more about jack lew, we call this one, you don't know jack. >> of course you do. >> this is a financial education. beginning with harvard and georgetown. but that never disqualified anybody. tip o'neill 93 and '94, special to president clinton. and that's what john harwood was talking about. incredible expertise with the budget. moving on in 2006, new york university as executive advice president. then a stint at citigroup. first at global wealth management and next in a...
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Jan 10, 2013
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i have the greatest respect for jack lew. i know he is main of exceptional judgment, calm under pressure with an extraordinary record of accomplishment and experience. over decades spent at the center of american economic policy. he is committed to defending the safety net for the elderly and the poor. he understands what it takes to create the conditions for stronger economic growth and broader economic opportunity. he understands that to govern responsibly is to govern with a recognition that we have limited fiscal resources. like jack, have i spent my professional life in this world of public policy and public service, and as all of you know, our families carry a large share of the burdens we assume in public life. i feel incredibly fortunate that my wife, carol, and my family have been willing to allow me to do this. i thank them for their support and their patience and i understand their occasional impatience. [ laughter ] >> i want to express my admiration and my appreciation for the women and the men of the treasury de
i have the greatest respect for jack lew. i know he is main of exceptional judgment, calm under pressure with an extraordinary record of accomplishment and experience. over decades spent at the center of american economic policy. he is committed to defending the safety net for the elderly and the poor. he understands what it takes to create the conditions for stronger economic growth and broader economic opportunity. he understands that to govern responsibly is to govern with a recognition that...
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Jan 10, 2013
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lew the individual and what jack lew has stood for historically in his career and more about this administration's fiscal policy you can expect to see these confirmation hearings will be a proxy for the looming debt ceiling debate and other debates going forward about the administration's fiscal plan. >> woodruff: jared, whator all does this choice say about what the president's priorities are when it comes to the economy? >> i think it says two things. one is that the president wants jack lew there for these upcoming fiscal deadlines. the sequestration the debt ceiling, things like that. he knows that jack is not just a tough negotiator and i think this next point has gotten mixed he's a successful negotiator. i know republicans are complaining because he took a tough line back in 2011 with a lot of tea party folks but in fact he's been closing deals for 30 years the second thing is jack understands what it means a very important part of the president's second term agenda. he understands what it means to get our debt on a sustainable trajectory. there's a lot that has to happen for that to occur.
lew the individual and what jack lew has stood for historically in his career and more about this administration's fiscal policy you can expect to see these confirmation hearings will be a proxy for the looming debt ceiling debate and other debates going forward about the administration's fiscal plan. >> woodruff: jared, whator all does this choice say about what the president's priorities are when it comes to the economy? >> i think it says two things. one is that the president...
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that left some republican was the sour tath about jack lew. in his book, bob woodward quotes saying brett loper in particular, found lew obnoxious. the budget director was doing 75% of the talking, lecturing everyone. not only about what obama's policy was but also why it was superior to the republicans'. barry jackson, former chief of staff, found lew's tone disrespectful and dismissive. lew is not likely to get any serious opposition. few senate republicans like jeff sessions aren't exactly saying celebratory things. according to fox news sessions has a prepared statement out that says, quote, jack lew must never be secretary of treasury. his testimony before the senate budget committee less than two years ago was so outrageous and false that it alone disqualifies him. jeff sessions is sort of alone on that front. one more thing to remember. secretary geithner would have -- would stay, president wouldn't be replacing geithner. if there is a cabinet secretary that the president knew the least but ended up becoming very close to, it has been g
that left some republican was the sour tath about jack lew. in his book, bob woodward quotes saying brett loper in particular, found lew obnoxious. the budget director was doing 75% of the talking, lecturing everyone. not only about what obama's policy was but also why it was superior to the republicans'. barry jackson, former chief of staff, found lew's tone disrespectful and dismissive. lew is not likely to get any serious opposition. few senate republicans like jeff sessions aren't exactly...
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Jan 12, 2013
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jack lew is an inside man. as long as the world doesn't implode, americans much less the world will pay little attention to who heads the u.s. treasury. what do you think? >> what do i think? it's really very simple. simple once again. it's not as easy as it's now a domestic issue with the budget battle. if only it were. this is all about who the man is and what does he bring to the table. if we look back at treasury secretaries, paul o'neill and john snow, they were major men in their own industries. but they didn't -- >> nobody remembers. >> nobody remembers them and they were not huge successes. lloyd benson even. look at what he was. a great man in his field. but did not bring much to the table. now you look at paulson, geithner, summers, ruben, morgan, you don't remember him any more than i do, but the fact is they were the men who actually were able to make the treasury work. now, there's no doubt jack lew comes with the authority of the president and the white house. but he has to go further than that. h
jack lew is an inside man. as long as the world doesn't implode, americans much less the world will pay little attention to who heads the u.s. treasury. what do you think? >> what do i think? it's really very simple. simple once again. it's not as easy as it's now a domestic issue with the budget battle. if only it were. this is all about who the man is and what does he bring to the table. if we look back at treasury secretaries, paul o'neill and john snow, they were major men in their...
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Jan 9, 2013
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>> steve, you were right on the money with the jack lew prediction. you and i had this conversation, but i just wonder, you know, there's this antagonistic relationship between the white house and business. >> right. >> there were a handful of business guys in the mix that wanted the job. larry fink. would it be sort of better as a perception from the market or perception of business to put a business guy in there to help the relationship, help the togetherness of business in washington so we actually get some job creation going? what's your take on this choice? >> i don't disagree with the signal that could have been sent had somebody else been chosen. >> exactly. >> no doubt about that. it could have been an olive branch to the business community. i think that's for sure, and president obama did have several candidates who he could have chosen from in that regard. >> right. >> so i think that's very important, but i think right now president obama says, you know what? i've got a problem with congress. i've got a problem with the debt ceiling. let me
>> steve, you were right on the money with the jack lew prediction. you and i had this conversation, but i just wonder, you know, there's this antagonistic relationship between the white house and business. >> right. >> there were a handful of business guys in the mix that wanted the job. larry fink. would it be sort of better as a perception from the market or perception of business to put a business guy in there to help the relationship, help the togetherness of business in...